Yingli Sees Return to Profit as Solar-Panel Demand Gains

Yingli Green Energy Holding Co. (YGE), the world’s biggest solar-panel maker, expects to post its first quarterly profit in three years as early as next quarter as demand climbs and cost controls show results.

The Chinese company “will see a gradual rise each quarter” after reporting a “small loss” or breaking even in the first three months of the year, Chief Financial Officer Wang Yiyu said today by telephone.

The forecast indicates increasing optimism that solar-panel makers are recovering from a plunge in prices caused by surplus manufacturing capacity. Trina Solar Ltd. and JinkoSolar Holding Co. (JKS) already have returned to profit. Canadian Solar Inc. (CSIQ), the best-performing stock among peers in the past year, posted its first quarterly net income in more than two years in November.

Yingli’s American depositary receipts increased 8.4 percent to $7.08 at the close in New York, the highest since Oct. 24.

Yingli has surged more than 40 percent this year after agreeing to form a venture with China’s Datong Coal Mine Group to develop solar plants in Shanxi province.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.

Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

SolarRoofHook - QuickBOLT for Asphalt Shingle Roofs

SolarRoofHook - QuickBOLT for Asphalt Shingle Roofs

The QuickBOLT is THE affordable mounting solution for Asphalt Shingle Roofs. Not only is it the lowest cost system in the industry, it also maintains the fastest install time of any mounting system available. Unlike other Asphalt Mounting systems that require bulky flashing, the QuickBOLT uses a small EPDM washer and is 100% waterproof! Part # QBKit2